Most developed countries have
seen labor participation in agriculture decline rapidly in the past 100 years, says Eldert van Henten, a professor of agricultural science and head of the Farm Technology Group at Wageningen University and Research Center in the Netherlands.
Not exact matches
In fact, a large enigma remains unresolved, in that the
labor force
participation rate has been trending lower for a long time and has returned to levels last
seen in the 1970s.
That's good news to economists, who want to
see the
labor force
participation rate return to pre-recession levels of about 66 percent.
The unemployment rate ticked back down to 4.3 %, matching the lowest level for 16 years
seen in May, and there was further evidence that the solid demand from employers was helping to attract more entrants into the workforce, as the
labor participation rate moved up a tenth to 62.9 %, close to the top of its recent range.
There are those who look at the high unemployment rates and low
labor force
participation of low - skill American workers and current residents and
see a
labor shortage.
Kashkari notes that the
labor force
participation and employment - population ratios, while showing improvement, have yet to come close to the levels
seen prior to the Great Recession.
Although the unemployment rate fell from 9.4 to 9.0 percent in January, the economy only added 36,000 jobs, the
labor force
participation rate is falling rapidly and hit levels not
seen since 1984.
The subpar growth reflects weak productivity growth, which has averaged less than 1 % over the past five years, and a low rate of
labor force
participation that remains at levels last
seen in the 1970s.